The Influence of Social Media Management on Firms' Competitiveness

The Influence of Social Media Management on Firms' Competitiveness

Elisa Arrigo
Copyright: © 2016 |Pages: 11
DOI: 10.4018/978-1-4666-9787-4.ch146
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Social Media Background

The transition from Web 1.0 to Web 4.0 has dramatically changed the ways in which consumers communicate and interact with companies. In Web 1.0, the communication contents were static and dominated by the company; in Web 2.0, they become socially based and audience-generated; in Web 3.0, they are driven by online metrics and, finally, in Web 4.0 the focus is on the customer engagement required to sell the products (Clow & Baack, 2014). Successful companies use the Web to connect and engage customers with the brand through various social platforms and devices since the recent rise of smartphones and tablets has allowed companies to stay connected with customers anywhere and at any time.

Key Terms in this Chapter

Social Media Analytics: The process of analyzing and evaluating data from social media in order to make business decisions.

Competitive Analysis: An assessment of the strengths and weaknesses of current and potential competitors and of environmental trends.

Competitive advantage: A favorable business condition that allows outperforming the competitors.

Customer Relationship Management: The development and coordination of business strategies to interact advantageously with current and future customers, building solid relationships with them.

Social Media Management: The organization of actions and strategies developed in order to coordinate social media activities.

E-Commerce: The corporate strategy of promoting and selling goods and/or services via electronic channels such as the Internet.

Customer Engagement: The continuous involvement of customers in the firm’s activities and strategies.

Social Media Tools: The different typologies of social media applications constituting the social media mix.

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